Saudi shows desire to invest in mining sector of Pakistan

Saudi Arabia has shown a strong willingness to invest in the mining sector of Pakistan, which provides vast opportunities for investment.

According to media reports, a Saudi Arabian delegation, led by Deputy Minister for Mining, Industries, and Minerals Khaled bin Saleh Al-Mudaifer, called on Prime Minister Mian Muhammad Shehbaz Sharif in Islamabad today (Wednesday, August 2^nd). Khaled bin Saleh Al-Mudaifer appreciated the pro-investors measures of the present government, particularly the establishment of the Special Investment Facilitation Council.

Prime Minister Shehbaz Sharif welcomed the delegation and said Pakistan provides immense investment opportunities to investors, particularly in the mining sector. He assured the delegation of Saudi Arabia that not only the upcoming interim government but also the next elected government would keep on facilitating the investors.

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Meanwhile, in a follow-up statement on social networking website Twitter after the ‘Pakistan Minerals Summit’, in Islamabad, the Premier said that the importance of mineral resources in national economies has increased manifold due to rapid developments in renewable energy technologies. He said the ‘Pakistan Minerals Summit’, brought together ambassadors from friendly countries, mineral sector executives, scientists, industry experts, and policymakers to deliberate on the vast untapped potential in the minerals and mining sector of Pakistan and make recommendations to attract investment.

PM Shehbaz Sharif further stated that the summit highlighted the need for setting new target areas, improving exploration strategies, and devising new methodologies for extracting minerals. He said the geological location of Pakistan is known for hosting a variety of mineral resources, ranging from clays, building stones, industrial minerals, and coal to metallic minerals and precious gemstones.

“The huge geological potential, coupled with its internationally competitive policy framework, fiscal and regulatory regimes, and low labor cost, has made Pakistan an attractive destination for investors on the world mineral map,” he added.